The Long & Foster Market Minute

Focus On: Chamberlayne Housing Market March 2021

Zip Code(s): 23227
Units Sold
23
Active Inventory
17
Median Sale Price
$268,000
Days On Market
10
Down
Vs. Year Ago
Down -61%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 23 sold this month in Chamberlayne Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 61%. The total number of active inventory this March was 17 compared to 44 in March 2020. This month's total of 17 is higher than the previous month's total supply of available inventory of 16, an increase of 6%.

Median Sale Price
Last March, the median sale price for Chamberlayne Homes was $284,225. This March, the median sale price was $268,000, a decrease of 6% or $16,225 compared to last year. The current median sold price is 4% lower than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
30
Current Contracts
25
Sold Vs. List Price
102.9%
Months of Supply
0.7
Down -43%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Down -58%
Vs. Year Ago

Months of Supply
In March, there was 0.7 months of supply available in Chamberlayne, compared to 1.8 in March 2020. That is a decrease of 58% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 30 homes newly listed for sale in Chamberlayne compared to 53 in March 2020, a decrease of 43%. There were 25 current contracts pending sale this March compared to 44 a year ago. The number of current contracts is 43% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Chamberlayne was 102.9% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, lower than the average last year, which was 16, a decrease of 38%.

The Long & Foster Market Minute Chamberlayne are defined as properties listed in zip code/s 23227.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by CVRMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of CVRMLS or Long & Foster Real Estate, Inc.